Independent Franchise Partners LLP Has $380.42 Million Position in TKO Group Holdings, Inc. (NYSE:TKO)

Independent Franchise Partners LLP decreased its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,522,742 shares of the company’s stock after selling 210,827 shares during the period. TKO Group accounts for about 3.5% of Independent Franchise Partners LLP’s holdings, making the stock its 15th biggest holding. Independent Franchise Partners LLP owned 2.07% of TKO Group worth $380,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. American International Group Inc. raised its stake in TKO Group by 10.1% during the fourth quarter. American International Group Inc. now owns 81,579 shares of the company’s stock worth $6,655,000 after buying an additional 7,456 shares during the last quarter. Vanguard Group Inc. raised its position in shares of TKO Group by 20.1% in the 4th quarter. Vanguard Group Inc. now owns 5,995,356 shares of the company’s stock worth $489,101,000 after acquiring an additional 1,002,121 shares in the last quarter. Alberta Investment Management Corp bought a new position in shares of TKO Group in the 4th quarter worth about $5,111,000. Wells Fargo & Company MN lifted its stake in shares of TKO Group by 15.2% in the 4th quarter. Wells Fargo & Company MN now owns 148,677 shares of the company’s stock valued at $12,129,000 after purchasing an additional 19,632 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of TKO Group by 23.8% during the 1st quarter. TD Asset Management Inc now owns 1,473,435 shares of the company’s stock valued at $127,320,000 after purchasing an additional 283,731 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors.

Insider Activity at TKO Group

In other TKO Group news, insider Mark S. Shapiro sold 31,026 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $114.76, for a total value of $3,560,543.76. Following the completion of the sale, the insider now directly owns 42,156 shares of the company’s stock, valued at approximately $4,837,822.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Mark S. Shapiro sold 31,026 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $114.76, for a total value of $3,560,543.76. Following the transaction, the insider now owns 42,156 shares in the company, valued at approximately $4,837,822.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nick Khan sold 22,693 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $105.53, for a total value of $2,394,792.29. Following the completion of the transaction, the director now directly owns 220,018 shares of the company’s stock, valued at $23,218,499.54. The disclosure for this sale can be found here. 53.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Roth Mkm boosted their price target on TKO Group from $121.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley boosted their target price on shares of TKO Group from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Redburn Atlantic started coverage on shares of TKO Group in a report on Thursday, July 18th. They issued a “buy” rating and a $129.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of TKO Group from $126.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, UBS Group raised their target price on TKO Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.13.

TKO Group Stock Performance

Shares of TKO opened at $121.94 on Friday. TKO Group Holdings, Inc. has a 52 week low of $72.33 and a 52 week high of $125.49. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a 50 day moving average price of $114.08 and a two-hundred day moving average price of $104.32. The firm has a market capitalization of $20.77 billion, a P/E ratio of -120.73 and a beta of 1.04.

TKO Group (NYSE:TKO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.10). The company had revenue of $851.20 million during the quarter, compared to analysts’ expectations of $771.54 million. TKO Group had a negative net margin of 3.14% and a positive return on equity of 3.10%. The company’s quarterly revenue was up 178.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. Equities analysts forecast that TKO Group Holdings, Inc. will post 4.17 earnings per share for the current fiscal year.

TKO Group Company Profile

TKO Group Holdings, Inc operates as a sports and entertainment company. The company produces and licenses live events, television programs, and long-form and short-form content, reality series, and other filmed entertainment on digital and linear channels and via pay-per-view. It is involved in the merchandising of video games, apparel, equipment, trading cards, memorabilia, digital goods, and toys, as well as sale of travel packages and tickets.